9 ms·

Peak ICO: Paris Hilton endorses a token sale

quuquuquu 9y ago
"This is not an ad". Hmm, maybe it's not. If you are reading, Paris, I'd love to have your input on the following few questions of mine: 1) What are the benefits of participating in an ICO, when compared to an IPO, a Kickstarter, or just generally taking on equity in a traditionally established company? 2) How much do you feel would be an acceptable investment in an ICO? 3) What product or service will be delivered by this company, and how long after the ICO would that service come into legitimate availability? 4) What recourse do I have, if any, should I desire to withdraw my funds?
roddux 9y ago
Okay, so this is not a joke and apparently not an advert either. A dubious claim. I'm so confused. Paris Hilton must be close to the last celebrity on earth I would have thought to endorse a coin sale. Who exactly is the audience, here? I've never even heard of Lydian coin before.
- cocktailpeanuts 9y ago
  In case you missed Mayweather https://twitter.com/FloydMayweather/status/900459256784334851 https://twitter.com/FloydMayweather/status/90045925678433485... this seems to be the trend nowadays. My guess is these scam companies approach these celebrities for a one time promotion deal, and since there's nothing to lose they just tweet it out. I believe the "audience" is not so much different from those who fall for Nigerian prince scams.
shpx 9y ago
I heard an ad on the radio for Dash coin while I was driving through rural Idaho (drove down for the eclipse). https://coinmarketcap.com/currencies/dash/ https://coinmarketcap.com/currencies/dash/ https://www.dash.org/ https://www.dash.org/
cylinder 9y ago
>Official Twitter Account for LydianCoin Pte Ltd., First A.I. Big Data Marketing Cloud for BlockChain This has to be satire...
- deleted 9y ago
  [deleted]
- spiorf 9y ago
  Are you questioning AI BIG DATA CLOUD BLOCKCHAIN???
jpatokal 9y ago
I'm fairly sure this is the 2010s equivalent of the shoeshine boy offering hot stock tips. Time to sell... https://www.cnbc.com/2013/11/11/is-the-shoeshine-boy-indicator-flashing-red.html https://www.cnbc.com/2013/11/11/is-the-shoeshine-boy-indicat...
ummjackson 9y ago
To make it even worse, this ICO is being run by that RadiumOne asshole who got jail time for extreme domestic violence: https://www.theguardian.com/technology/2016/aug/12/gurbaksh-chahal-silicon-valley-domestic-assault-sentence https://www.theguardian.com/technology/2016/aug/12/gurbaksh-... Crypto gold rush is attracting all sorts of unsavory characters.
jondubois 9y ago
Even if cryptocurrency does turn out of be a bubble, it will still change everything. A cryptocurrency bubble would look very different from a typical economic bubble because cryptocurrencies are more than just financial instruments; they're a form of protest against the established financial order. If it were to collapse, the disillusionment and blame that would come out of it may be enough to start a revolution. As more people start buying cryptos and start doing more research, they become increasingly sceptical about the existing financial system.
- jshaqaw 9y ago
  Are you like 12 years old
- grey-area 9y ago
  It's different this time?
- charlesdm 9y ago
  > If it were to collapse, the disillusionment and blame that would come out of it may be enough to start a revolution. You mean, if it's not different this time? The average person doesn't understand the monetary system, and having cryptocoins won't change that. Most people buying these things just buy because the price is going up _fast_. But these ICOs don't have any inherent value -- they're tokens being created out of thin air by random people with mostly stupid ideas. > As more people start buying cryptos and start doing more research, they become increasingly sceptical about the existing financial system. The financial system has its flaws -- for sure. Blockchain tech is very interesting, but I don't believe crypto is a valid solution. That said, you can still make money in a bubble, so enjoy the party while it lasts?
  - jondubois 9y ago
    A lot of them have inherent value. When you use Stripe to pay for something, you pay a transaction fee. When you use Bitcoin or any other cryptocurrency, you also pay a transaction fee (which is often much lower than what you would pay with a standard gateway; particularly with large transactions). That's profit; the profit gives intrinsic value to the network. The bitcoin network is quite slow and power hungry, so as a result the BTC transaction fee is now over $4 which is high; the BTC network is saturated due to high demand; so that's why we need altcoins to add capacity. There aren't enough altcoin networks to handle the demand for crypto-transactions. A blockchain does not scale unfortunately (each one has a hard physical throughput limit), so the best way to scale a block chain is to add more side chains (which is what alt-coins are; you can think of them as specialized shards of Bitcoin). It's like the Domain Name System - There is a hierarchy of machines and networks which together can handle a massive volume of domain name lookups. Any network which proves itself to be a trustworthy and reliable way to transfer money has intrinsic value which is determined by the present or future value of the network of services around it.
cocktailpeanuts 9y ago
Guys don't miss the "Launch Promo" video, you'll regret it for the rest of your life if you do: https://www.youtube.com/watch?v=l644fAxGzlw https://www.youtube.com/watch?v=l644fAxGzlw
- brad0 9y ago
  Nice find. I thought it was a parody there for a while. You can tell it's aimed at taking advantage of people that don't have much. "If I invest in this coin I can fly a jet pack around Dubai!"
- ChoGGi 9y ago
  Hopefully next time he'll hire someone to do the voice-over, or at least get some coaching on delivering lines.
- ahartman00 9y ago
  sorry for the low substance comment but... OMG! I almost never watch videos(low content to time ratio), but this is hilarious. I don't know what the word for phrases that are buzzwords(cliche?), but this has most if not all of them.
  - cocktailpeanuts 9y ago
    Just wait till you find another video for gravity4, the parent company running this scheme: https://www.youtube.com/watch?v=PtW0WIDM2cY https://www.youtube.com/watch?v=PtW0WIDM2cY It's so hilariously bad that it's a masterpiece, almost like "The Room".
omarchowdhury 9y ago
This cheapens crypto.
brad0 9y ago
My cousin told me I should invest in a particular cryptocoin the other day. He knows little about computers and nothing about why this altcoin would be valuable. When everyday people are investing in these coins to make a quick buck it makes alarm bells go off in my head.
justboxing 9y ago
Most certainly an Ad. Just like Floyd Mayweather was on IG promoting Stox.com ICO @floydmayweather > Champion Predictions: I'm gonna make a $hit t$n of money on August 26th. I'm gonna make a $hit t$n of money on August 2nd on the Stox.com ICO. Source: https://www.instagram.com/p/BXD4KDqgX3x/ https://www.instagram.com/p/BXD4KDqgX3x/ Related Story: https://www.coindesk.com/boxing-champ-floyd-mayweather-just-promoted-ico-instagram/ https://www.coindesk.com/boxing-champ-floyd-mayweather-just-...
Roshie5u 9y ago
Is that even legal? All I have found is https://www.ftc.gov/tips-advice/business-center/guidance/ftcs-endorsement-guides-what-people-are-asking https://www.ftc.gov/tips-advice/business-center/guidance/ftc... but it reeds like just a bunch of guidelines.

"This is not an ad". Hmm, maybe it's not. If you are reading, Paris, I'd love to have your input on the following few questions of mine: 1) What are the benefits of participating in an ICO, when compared to an IPO, a Kickstarter, or just generally taking on equity in a traditionally established company? 2) How much do you feel would be an acceptable investment in an ICO? 3) What product or service will be delivered by this company, and how long after the ICO would that service come into legitimate availability? 4) What recourse do I have, if any, should I desire to withdraw my funds?

roddux 9y ago

Okay, so this is not a joke and apparently not an advert either. A dubious claim. I'm so confused. Paris Hilton must be close to the last celebrity on earth I would have thought to endorse a coin sale. Who exactly is the audience, here? I've never even heard of Lydian coin before.

cocktailpeanuts 9y ago
In case you missed Mayweather https://twitter.com/FloydMayweather/status/900459256784334851 https://twitter.com/FloydMayweather/status/90045925678433485... this seems to be the trend nowadays. My guess is these scam companies approach these celebrities for a one time promotion deal, and since there's nothing to lose they just tweet it out. I believe the "audience" is not so much different from those who fall for Nigerian prince scams.

shpx 9y ago

I heard an ad on the radio for Dash coin while I was driving through rural Idaho (drove down for the eclipse). https://coinmarketcap.com/currencies/dash/ https://coinmarketcap.com/currencies/dash/ https://www.dash.org/ https://www.dash.org/

cylinder 9y ago

>Official Twitter Account for LydianCoin Pte Ltd., First A.I. Big Data Marketing Cloud for BlockChain This has to be satire...

deleted 9y ago
[deleted]
spiorf 9y ago
Are you questioning AI BIG DATA CLOUD BLOCKCHAIN???

jpatokal 9y ago

I'm fairly sure this is the 2010s equivalent of the shoeshine boy offering hot stock tips. Time to sell... https://www.cnbc.com/2013/11/11/is-the-shoeshine-boy-indicator-flashing-red.html https://www.cnbc.com/2013/11/11/is-the-shoeshine-boy-indicat...

ummjackson 9y ago

To make it even worse, this ICO is being run by that RadiumOne asshole who got jail time for extreme domestic violence: https://www.theguardian.com/technology/2016/aug/12/gurbaksh-chahal-silicon-valley-domestic-assault-sentence https://www.theguardian.com/technology/2016/aug/12/gurbaksh-... Crypto gold rush is attracting all sorts of unsavory characters.

jondubois 9y ago

Even if cryptocurrency does turn out of be a bubble, it will still change everything. A cryptocurrency bubble would look very different from a typical economic bubble because cryptocurrencies are more than just financial instruments; they're a form of protest against the established financial order. If it were to collapse, the disillusionment and blame that would come out of it may be enough to start a revolution. As more people start buying cryptos and start doing more research, they become increasingly sceptical about the existing financial system.

jshaqaw 9y ago
Are you like 12 years old
grey-area 9y ago
It's different this time?
charlesdm 9y ago
> If it were to collapse, the disillusionment and blame that would come out of it may be enough to start a revolution. You mean, if it's not different this time? The average person doesn't understand the monetary system, and having cryptocoins won't change that. Most people buying these things just buy because the price is going up _fast_. But these ICOs don't have any inherent value -- they're tokens being created out of thin air by random people with mostly stupid ideas. > As more people start buying cryptos and start doing more research, they become increasingly sceptical about the existing financial system. The financial system has its flaws -- for sure. Blockchain tech is very interesting, but I don't believe crypto is a valid solution. That said, you can still make money in a bubble, so enjoy the party while it lasts?
- jondubois 9y ago
  A lot of them have inherent value. When you use Stripe to pay for something, you pay a transaction fee. When you use Bitcoin or any other cryptocurrency, you also pay a transaction fee (which is often much lower than what you would pay with a standard gateway; particularly with large transactions). That's profit; the profit gives intrinsic value to the network. The bitcoin network is quite slow and power hungry, so as a result the BTC transaction fee is now over $4 which is high; the BTC network is saturated due to high demand; so that's why we need altcoins to add capacity. There aren't enough altcoin networks to handle the demand for crypto-transactions. A blockchain does not scale unfortunately (each one has a hard physical throughput limit), so the best way to scale a block chain is to add more side chains (which is what alt-coins are; you can think of them as specialized shards of Bitcoin). It's like the Domain Name System - There is a hierarchy of machines and networks which together can handle a massive volume of domain name lookups. Any network which proves itself to be a trustworthy and reliable way to transfer money has intrinsic value which is determined by the present or future value of the network of services around it.

cocktailpeanuts 9y ago

Guys don't miss the "Launch Promo" video, you'll regret it for the rest of your life if you do: https://www.youtube.com/watch?v=l644fAxGzlw https://www.youtube.com/watch?v=l644fAxGzlw

brad0 9y ago
Nice find. I thought it was a parody there for a while. You can tell it's aimed at taking advantage of people that don't have much. "If I invest in this coin I can fly a jet pack around Dubai!"
ChoGGi 9y ago
Hopefully next time he'll hire someone to do the voice-over, or at least get some coaching on delivering lines.
ahartman00 9y ago
sorry for the low substance comment but... OMG! I almost never watch videos(low content to time ratio), but this is hilarious. I don't know what the word for phrases that are buzzwords(cliche?), but this has most if not all of them.
- cocktailpeanuts 9y ago
  Just wait till you find another video for gravity4, the parent company running this scheme: https://www.youtube.com/watch?v=PtW0WIDM2cY https://www.youtube.com/watch?v=PtW0WIDM2cY It's so hilariously bad that it's a masterpiece, almost like "The Room".

omarchowdhury 9y ago

This cheapens crypto.

brad0 9y ago

My cousin told me I should invest in a particular cryptocoin the other day. He knows little about computers and nothing about why this altcoin would be valuable. When everyday people are investing in these coins to make a quick buck it makes alarm bells go off in my head.

justboxing 9y ago

Most certainly an Ad. Just like Floyd Mayweather was on IG promoting Stox.com ICO @floydmayweather > Champion Predictions: I'm gonna make a $hit t$n of money on August 26th. I'm gonna make a $hit t$n of money on August 2nd on the Stox.com ICO. Source: https://www.instagram.com/p/BXD4KDqgX3x/ https://www.instagram.com/p/BXD4KDqgX3x/ Related Story: https://www.coindesk.com/boxing-champ-floyd-mayweather-just-promoted-ico-instagram/ https://www.coindesk.com/boxing-champ-floyd-mayweather-just-...

Roshie5u 9y ago

Is that even legal? All I have found is https://www.ftc.gov/tips-advice/business-center/guidance/ftcs-endorsement-guides-what-people-are-asking https://www.ftc.gov/tips-advice/business-center/guidance/ftc... but it reeds like just a bunch of guidelines.